largefeature

CALGARY — Western Canadian demand for condensate, a light petroleum liquid used to dilute oilsands bitumen so it will flow in a pipeline, is expected to more than double to 750,000 barrels per day by 2020, according to a new study. Furthermore, the price of condensate is expected to continue to command a premium over benchmark crude after trading at an average of $113 Cdn per barrel in Edmonton in the first quarter of 2014, the highest average quarterly price since 2008, says the report from Calgary investment bank Peters & Co.

Some tanker cars in Western Canada have been temporarily suspended from being used to ship oil in the wake of Tuesday’s U.S. rail safety ruling, the chief executive of Calgary-based terminal operator Torq Transloading Inc. said Wednesday. But service is continuing to be offered, Jarrett Zielinski told the Herald.